Franchises offer many advantages over traditional businesses, including a proven business model, brand recognition and access to customers. These advantages can make franchising a very attractive option. Let's explore some of the reasons why franchising is such a popular option for entrepreneurs
An already established brand and business model
When you want to get started in entrepreneurship, several options are available to you : create your brand from A to Z, take over an existing business, move towards franchising. Whatever the option, there are advantages (and disadvantages). The case of the franchise : by leveraging an established brand and following a proven business model, the chances of success are high. These opportunities offer entrepreneurs the benefit of significantly reducing the risks and costs associated with launching their own independent business. Support from the franchisor allows its franchisees to focus on growing their new business without worrying about the more tedious aspects associated with starting from scratch. (establish a marketing strategy, source suppliers, make the brand known, etc.). For this reason, franchises are often less risky than starting a new business from scratch, because they have already proven themselves. It is therefore an ideal option for people who are averse to risk., and it is easier to negotiate a loan when you start a franchise business.
Being your own boss while having access to the support and resources of the franchisor
Owning your own business and being your own boss is a dream for many people. Franchises offer an attractive way to make this dream a reality. With franchise opportunities, entrepreneurs have the opportunity to run their own business with the added benefit of franchisor support and resources. Whether operational advice or marketing strategies, the franchisor can provide valuable assistance that helps franchisees succeed in their business ventures, while giving them the autonomy necessary to develop and adapt to certain specificities of their customers.
A point of sale… or several
Getting started with opening franchise outlets is a great way to quickly grow and capitalize on your business model. The appeal of franchising lies in its ability to easily replicate a proven business formula, allowing you to capitalize on multiple sites quickly and efficiently. When negotiating with a franchisor, you delimit an area in which other entrepreneurs will not come to compete with you with the same brand and in return, the franchisor may ask you to open X points of sale in the defined territory within Y years.
National marketing campaigns
The franchise advertising fee is a standard. According to the brands, it is 1 to 5% of the turnover generated. It allows franchisors to invest in national advertising campaigns benefiting the entire brand. otherwise, when you are franchised, you benefit from the support of a marketing and communications team, which allows you to save time on all marketing and communication strategies all year round. In order to maintain harmony in communication, publications, visuals, scripts and other materials can be provided to you by the franchisor.
Franchises in all sectors of activity
There are many types of franchises in different industries, so there is sure to be one that matches your interests and skills. With so many industry-specific franchises to choose from on the market, there is sure to be one that matches your interests and expertise. Franchising is an attractive option for entrepreneurs who want access to an established brand and a proven model.. It's important to do your research before choosing a franchise, to take the time to meet the leaders, the various stakeholders of the company (development manager, responsables marketing, etc.) as well as other franchisees, to see if the brand's values and vision also match yours
In the April 2022 issue, I shared with you my feedback from the franchise show. Every year many (future) Reunion entrepreneurs go there and become franchisors. I invite you to (re)read on the website www.leaderreunion.fr before going there.
